Trade Ideas

Disclaimer: The views on the posts and charts are for educational and illustration purpose only, as past performance is not necessarily indicative of future performance. They are provided for general information only and therefore should not be taken as any offer or solicitation to do any investment or trade.

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Forex and Index CFD Trade Ideas & Chart Analysis ( 11 – 15 May 20 )

By Hector in Trade Ideas on 10 May 2020

1.(Strait Times Index SGD5 CFD)




Big Picture – Neutral

Resistance : 2,671    Support : 2,528

One Good Trade Idea

STI price action remains in a side way range between 2,528 to 2,671. Traders may prefer to stay sidelined and wait for a price action signal on either end of this range. A break on either side will may give us the next direction it is heading for the next move.


2.(US SP500 Index USD5 CFD)



Big Picture – Short Term Bullish

Resistance : 3,134    Support : 2,725

One Good Trade Idea

The US S&P 500 is holding steady for now with a series of higher highs and higher lows. Despite US NFPs reported a record 20.5 million jobs loss in Apr, it closed higher at the end of the week. Stimulus speculation from the FED may be in the work. The first resistance  for the bulls to clear is at the recent high of 2,972. If it breaks, it will expose the next level at 3,134. Traders may prefer to buy above the support 2,725 for a move higher.


3.(US Tech 100 Index USD5 CFD)



Big Picture – Bullish

Resistance : 9,752    Support : 8,979

One Good Trade Idea

After a false break of the resistance at 8,979, the tech index had a good run last week with a break away from 8.979 level. This is now the new resistance turned support. The V shaped recovery may continue with the next move towards 9,752. Traders may look for a pullback above support to enter long. However, a close below this support will negate this bullish view.


Note: To trade Index CFD, you may open a CFD Account with Phillip Securities under Hector (XL) as your preferred Trading Representative.







Big Picture – Bullish

Resistance : 0.6684    Support : 0.6253

One Good Trade Idea

After a pullback and test of the support at the trendline, AUDUSD price action has traded higher last week. Against the backdrop of a record recession in US, there is speculation of the FED being pushed into negative rates. This may provide traction for it to move higher. Also helping it is the diminishing US-China trade war risk as both sides will hold a conference call on their Phase 1 deal. Traders may look to long above support at 0.6253 for a move higher towards 0.6684.





Big Picture – Bearish

Resistance : 123.72    Support : 135.73

One Good Trade Idea

The bias is bearish as the recent attempt to clear 135.73 failed. Subsequently, it pullback and break below the recent low before the attempt. Traders may consider to sell with a price action signal below 135.73 resistance with a target move towards 123.72.




Big Picture – Bearish

Resistance : 106.91, 108.08    Support : 101.18

One Good Trade Idea

USDJPY may be moving downwards towards 101.18 support after it broke the support at 106.91. Traders may look for a pullback into the resistance zone between 106.91 and 108.08 to enter short with a price action sell signal.


Note: To trade Forex, you may first open a MT5 Demo Account under Phillip Futures A/c No (If any) : Hector (VXL)



Happy Trading!
One Good Trade

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